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Forex Technical Analysis - 10th February 2012

ByDeltastock
Published 02/10/2012, 06:17 AM
Updated 03/09/2019, 08:30 AM
EUR/USD

February 10, 2012 - Current level - 1.3245
<span class=EUR/USD" title="EUR/USD" width="500" height="340">Still in the prolonged consolidation pattern after the recent break above 1.3230 and my outlook remains absolutely bullish for a continuation of the uptrend towards 1.3450, en route to 1.3540. Major support are is projected at 1.3210-30 and crucial on the mid-frames is 1.3030. The intraday bias is slightly positive, for a break through 1.3290 minor resistance zone.

USD/JPY

February 10, 2012 - Current level - 77.65
<span class=USD/JPY" title="USD/JPY" width="500" height="340">The uptrend from 76.01 is still intact, heading for a test of 78.25 resistance area. Current high at 77.75 marks the beginning of a minor consolidation pattern for a test of 77.30 support area. Crucial on the downside remains 76.72.

GBP/USD

February 10, 2012 - Current level - 1.5785
<span class=GBP/USD" title=" GBP/USD" width="500" height="340">Obviously the consolidation pattern below 1.5930 is still underway and I believe, that the recent slide from 1.5885 is its third, final leg, so a reversal should be expected for a rise towards 1.5980, en route to 1.6120. Crucial on the upside is intraday's resistance at 1.5885.

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